StockMarketWire.com - Invesco Income Growth Trust marginally outperformance as net asset value per share fell 17.3% following a slump in global markets earlier this year.
The company's net asset value, including reinvested dividends, delivered a return of -17.3% for the year, marginally outperforming the benchmark, the FTSE All-Share Index which delivered a total return of -18.5% over the same period.
The Covid-19 pandemic 'threw stock markets completely off course in the last weeks of our financial year and so too our company which, up to that point, had been following a very promising course with positive returns, outperformance over most periods and a narrowing discount,' the company said.
The strongest performing sector in the portfolio over the twelve month period had been utilities.
Post the general election the threat of nationalisation by a far-left Labour government had been removed and these companies 'saw this relief materialise in an upward movement of their share prices,' the company said.
At 8:39am: [LON:IVI] Invesco Income Growth Trust Plc share price was +2.5p at 236.5p
Story provided by StockMarketWire.com
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